Sava Insurance Group and Sava Re: 2021 results

Sava Insurance Group has recorded a 729.898 million EUR (826.536 million USD) turnover in 2021, showing a 7.3% increase compared to 679.749 million EUR (834.895 million USD) in 2020.

The net profit grew by 35.1% to reach 76.167 million EUR (86.25 million USD) at the end of 2021 compared to 56.386 million EUR (69.25 million USD) one year earlier.

The incurred losses went from 426.695 million EUR (524.084 million USD) on 31 December 2020 to 408.814 million EUR (462.941 million USD) a year later. The combined ratio has gained 5.6 points to stand at 88.3%.

As for the entity specialized in reinsurance, Sava Re has posted a 3.3% growth of its written premiums reaching 162.736 million EUR (184.282 million USD).

By the end of 2021, the Slovenian reinsurer has recorded a net profit of 52.84 million EUR (59.8 million USD) compared to a net loss of 10.99 million EUR in 2020.